RELEASE: pr5151-06

Washington, DC—The Commodity Futures Trading Commission (CFTC) announced today the appointment of Commissioner Michael V. Dunn to serve as Chairman and Designated Federal Official of its Agricultural Advisory Committee (AAC). The AAC was created to advise the Commission on agricultural issues surrounding the trading of commodity futures and options and to serve as a communications link with the agricultural community. It is made up of representatives of national farm organizations, major commodity groups, agribusiness concerns, and agricultural bankers.

Commissioner Dunn takes over the AAC chair from former Chairman James E. Newsome who chaired this committee from January 15, 2002, until his resignation on July 23, 2004. In announcing this appointment, CFTC Chairman Reuben Jeffery III stated, “On behalf of the Commission, I wish to thank Commissioner Dunn for accepting the Chair of the AAC. The highly respected and distinguished agricultural leaders who comprise this Advisory Committee have consistently shared valuable insights and opinions with the Commission on issues of critical importance to agricultural users of the futures and options markets. I expect the Commission to continue to benefit immensely from the AAC’s deliberations under Commissioner Dunn’s leadership.”

In accepting his appointment, Commissioner Dunn commented, “I would like to thank the Chairman for his trust and confidence in naming me to this position. I look forward to working with the agricultural community to establish an active and effective Agricultural Advisory Committee.”